Ministry of Trade, Industry and Energy and KOTRA hold ‘Korea-India Future Industry Partnership’ in India

The Ministry of Trade, Industry and Energy and KOTRA held the ‘2024 Korea-India Future Industry Partnership’ at the Taj Palace Hotel in New Delhi, India, on May 29. The event was held for the first time last year to commemorate the 50th anniversary of the establishment of diplomatic relations between Korea and India, and this year marks its second anniversary and was held to promote business exchanges in the fields of electric vehicles, secondary batteries, and infrastructure. About 90 companies from both countries participated in this event, organized in conjunction with the Automotive Component Manufacturers Association of India, to discuss exports, technological cooperation, and joint ventures. Motherson Group, India's largest automobile parts manufacturer with over 350 production facilities and bases in 42 countries around the world, and L&T Group, the largest construction company, also participated. In particular, officials from L&T Group's subsidiary, L&T Construction, participated in the event to discuss sourcing construction materials and steel with domestic companies. KOTRA plans to open a Korean pavilion next month at ‘L&T Sufin’, an online B2B marketplace operated by L&T Group, to provide assistance to domestic companies wishing to collaborate.

KORA accelerates exports to China with ‘2024 K-Beauty Shanghai’ and ‘2024 K-Healthcare Beijing Mission’

The Ministry of Trade, Industry and Energy and KOTRA held the ‘2024 K-Beauty Shanghai’ in Shanghai, China on May 22nd and the ‘2024 K-Healthcare Beijing Delegation’ in Beijing on the 28th. These events are aimed at responding to changes in trends in China's cosmetics and healthcare market and spurring exports to China. KOTRA noted that new export opportunities opened up for Korean companies as the online market share of the Chinese cosmetics market exceeded 50% for the first time last year, and at the business consultation session, 30 companies participating in the Korean pavilion were invited to online platform buyers such as Douyin and Xiaohongshu vendors. Participants shared consultations in the areas of trade agreement utilization, trade insurance, intellectual property rights, and certification, as well as industrial trends and cases of cooperation between the two countries. 25 Korean companies conducted one-on-one consultations with local buyers, including Osstem Implant, Ceragem, CheongKwanJang, Chong Kun Dang Health, and Duzone Bizon.